Daily Archives: May 1, 2009

Chris Nuttall

If you thought the hype surrounding Twitter had gone as far as it could, think again.

We seem to be approaching a canonisation, certainly in the way celebrities are anointing the microblogging service and its founders.

Two of them, Evan Williams and Biz Stone, feature in the 2009 Time 100 of the world’s most influential people this week in the “Builders and Titans” section of the magazine. 

Richard Waters

Finally, some good news on the tech financing front.

April turned out to be the best month for tech IPOs in at least a year. OK, two is not a lot to shout about. But that was as many IPOs as the previous 11 months combined, and the stocks have traded up nicely (Chinese games company Changyou by 92 per cent, online education company Rosetta Stone by 66 per cent.)

That probably explains why we hear, through an unconfirmed source, that Jeff Jordan recently bought himself three new suits in preparation for an IPO roadshow. 

  • Sales may have plunged by nearly 30 per cent in the first quarter and the cash outflow may have soared, but don’t worry: things will get better later this year. So said the CEOs of both Eastman Kodak and Motorola on Thursday as they struggled to convince Wall Street that the bleeding would soon stop. Investors were not convinced: Motorola’s shares dropped 7 per cent and Kodak slumped a further 16 per cent.
  • Europe’s leading chip companies claimed to have seen the first green shoots of a recovery, though they held out little hope for an early rebound as they reported dismal first quarter results. Sales at ST Microelectronics plunged 33 per cent, while Infineon’s sales were 10 per cent lower.